core laboratories n.v. (CLB) Related Bloomberg News

core laboratories n.v. (CLB) Related Businessweek News

No Related Businessweek News Found

core laboratories n.v. (CLB) Details

Core Laboratories N.V. provides reservoir description, production enhancement, and reservoir management services to the oil and gas industry in the United States, Canada, and internationally. The company’s Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples. This segment offers analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry. Its Production Enhancement segment includes products and services relating to reservoir well completions, perforations, stimulations, and production. This segment offers integrated services to evaluate the effectiveness of well completions and to develop solutions to enhance the effectiveness of enhanced oil recovery projects. The company’s Reservoir Management segment combines and integrates information from reservoir description and production enhancement services to increase the production and improve recovery of oil and gas from its client’s reservoirs. It markets its products through sales representatives, technical seminars, trade shows, and print advertising, as well as through distributors. Core Laboratories N.V. was founded in 1936 and is based in Amsterdam, the Netherlands.

core laboratories n.v. (CLB) Key Developments

Core Laboratories NV Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter, Fourth Quarter and Full Year of 2015

Jul 22 15

Core Laboratories NV announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company's revenue was $203.9 million compared with $267.6 million a year ago. Operating income was $47.9 million compared with $84.1 million a year ago. Income before income tax expense was $44.8 million compared with $81.3 million a year ago. Net income attributable to the company was $34.6 million or $0.81 per diluted share compared with $63.7 million or $1.42 per diluted share a year ago. The company reported operating income excluding specific items of $48.9 million, net income excluding specific items of $35.4 million or $0.82 per diluted share, net cash provided by operating activities of $46.7 million, and capital expenditures of $5.44 million. Capital expenditures for the quarter are $5.4 million, down from $12.1 million in the second quarter of 2014 in response to the current environment. Cash flow from operating activities in the quarter is $46.7 million. Free cash flow is $41.3 million for the quarter.
For the six months, the company's revenue was $417.5 million compared with $530.5 million a year ago. Operating income was $90.6 million compared with $166.96 million a year ago. Income before income tax expense was $85.1 million compared with $161.8 million a year ago. Net income attributable to the company was $66.0 million or $1.53 per diluted share compared with $124.8 million or $2.77 per diluted share a year ago. The company reported cash flows from operating activities of $126.3 million and capital expenditures of $12.3 million. For the first half of the year, the company converted over 27% of revenues into free cash, which generated $114 million in free cash flow and represents 173% of net income.
The company projects that third quarter revenue will range between $203,000,000 and $205,000,000, with EPS ranging between $0.82 and $0.84. Free cash flow for the third quarter 2015 is expected to exceed $50,000,000, significantly greater than projected net income.
For the fourth quarter of 2015, the company projects revenue levels ranging from $205,000,000 to $210,000,000 with EPS ranging between $0.84 and $0.86. Free cash flow for the fourth quarter 2015 is expected to exceed $60,000,000.
The company expect full year CapEx to be approximately $27 million in 2015, which is down about $10 million from 2014.

The Board of Supervisory Directors of Core Laboratories N.V. has announced a cash dividend of $0.55 per share of common stock payable in the third quarter of 2015. The quarterly cash dividend will be payable on 17 August 2015, to shareholders of record on 17 July 2015. Dutch withholding tax will be deducted from the dividend at a rate of 15%.

Core Laboratories NV to Report Q2, 2015 Results on Jul 23, 2015

Jul 1 15

Core Laboratories NV announced that they will report Q2, 2015 results at 5:00 PM, W. Europe Standard Time on Jul 23, 2015

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.